Copart, Inc. $CPRT Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,149,708 shares of the business services provider’s stock after purchasing an additional 266,286 shares during the period. Victory Capital Management Inc. owned 0.74% of Copart worth $355,320,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the last quarter. World Investment Advisors purchased a new stake in Copart during the 2nd quarter worth about $247,000. Plato Investment Management Ltd increased its position in Copart by 11,733.7% during the 2nd quarter. Plato Investment Management Ltd now owns 12,307 shares of the business services provider’s stock worth $602,000 after purchasing an additional 12,203 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Copart by 46.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,395 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 1,072 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.6%

CPRT stock opened at $38.31 on Tuesday. The company has a market cap of $37.08 billion, a PE ratio of 23.94 and a beta of 1.09. The stock has a 50-day moving average price of $39.15 and a two-hundred day moving average price of $42.10. Copart, Inc. has a 12-month low of $33.81 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Barclays reissued an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.40.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.